www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com US gas rallies to six-month high http://www.upstreamonline.com/live/1374986/US-gas-rallies-to-six-month-high Some hedge funds seem to have missed out on this week's big rally in US natural gas, cutting bullish bets on the fuel before prices hit six-week highs, government data suggested on Friday. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1374986/US-gas-rallies-to-six-month-high Fri, 29 Aug 2014 22:15:16 +0000 live Athabasca closes PetroChina deal http://www.upstreamonline.com/live/1374985/Athabasca-closes-PetroChina-deal Athabasca Oil Corporation has closed on a C$1.184 billion ($1.088 billion) deal with a unit of PetroChina to exit the proposed Dover oil sands project following months of negotiation, the company said. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1374985/Athabasca-closes-PetroChina-deal Fri, 29 Aug 2014 22:00:32 +0000 live EIA pumps Mexico forecast by 75% http://www.upstreamonline.com/live/1374978/EIA-pumps-Mexico-forecast-by-75 The US Energy Information Administration has predicted "profound" changes to Mexico's oil and liquids output following energy reforms, projecting growth to 3.7 million barrels per day by 2040, according to its latest analysis. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1374978/EIA-pumps-Mexico-forecast-by-75 Fri, 29 Aug 2014 20:18:58 +0000 live Lukoil eyes spending cut amid volatility http://www.upstreamonline.com/live/1374975/Lukoil-eyes-spending-cut-amid-volatility Lukoil, Russia's second-largest oil producer, plans to cut its capital spending because of economic and political volatility, vice president Leonid Fedun said on Friday. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1374975/Lukoil-eyes-spending-cut-amid-volatility Fri, 29 Aug 2014 17:38:19 +0000 live US rig count rises by 18 http://www.upstreamonline.com/live/1374970/US-rig-count-rises-by-18 The count of rigs exploring for oil and gas in the US was up by 18 this week to 1914, according to the latest data from Baker Hughes. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1374970/US-rig-count-rises-by-18 Fri, 29 Aug 2014 17:24:28 +0000 live Samson looks to sell deep-water assets http://www.upstreamonline.com/live/1374961/Samson-looks-to-sell-deep-water-assets Privately held US player Samson Energy plans to sell off its deep-water oil and gas business, a portfolio that includes stakes in a number of high-profile Gulf of Mexico discoveries and prospects. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1374961/Samson-looks-to-sell-deep-water-assets Fri, 29 Aug 2014 15:09:01 +0000 live Norway targeted by hackers http://www.upstreamonline.com/live/1374951/Norway-targeted-by-hackers More than 50 companies in Norway’s energy sector have been targeted in recent data sabotage attempts in one of the biggest cyber attacks to have hit the country’s oil and gas industry, according to the National Security Authority (NSA). Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374951/Norway-targeted-by-hackers Fri, 29 Aug 2014 14:42:59 +0000 live Bluewater speeds up for Brynhild http://www.upstreamonline.com/live/1374947/Bluewater-speeds-up-for-Brynhild Bluewater is advancing with preparations to bring back online the Haewene Brim floating production ship at Shell’s Pierce field off the UK, with the vessel now back on location after delays to upgrade work. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374947/Bluewater-speeds-up-for-Brynhild Fri, 29 Aug 2014 13:51:10 +0000 live SapuraKencana in big Malaysia gas find http://www.upstreamonline.com/live/1374938/SapuraKencana-in-big-Malaysia-gas-find SapuraKencana Energy (SKE) has doubled the reserves of gas found at a block off Malaysia after its latest probe came up trumps. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374938/SapuraKencana-in-big-Malaysia-gas-find Fri, 29 Aug 2014 11:58:53 +0000 live Perth-Lowlander plan 'in the works' http://www.upstreamonline.com/live/1374929/Perth-Lowlander-plan-in-the-works A heads of agreement has been signed by the participants in the Perth & Dolphin and Lowlander discoveries off the UK that has set the stage for a combined development of the three fields, according to partner Atlantic Petroleum. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374929/Perth-Lowlander-plan-in-the-works Fri, 29 Aug 2014 10:11:55 +0000 live Green Dragon in $40m ConocoPhillips settlement http://www.upstreamonline.com/live/1374927/Green-Dragon-in-40m-ConocoPhillips-settlement ConocoPhillips and Green Dragon Gas have put a long-running dispute over Chinese unconventional plays behind them after the latter agreed to make a sizeable pay-off. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374927/Green-Dragon-in-40m-ConocoPhillips-settlement Fri, 29 Aug 2014 10:10:49 +0000 live Havyard wins Brazil design gig http://www.upstreamonline.com/live/1374920/Havyard-wins-Brazil-design-gig Norwegian vessel designer and builder Havyard has secured a deal to provide ship design and equipment for four newbuild anchor-handling tug supply vessels with Brazil’s Grupo CBO. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374920/Havyard-wins-Brazil-design-gig Fri, 29 Aug 2014 09:10:42 +0000 live Drilling blows cloud Odfjell profit http://www.upstreamonline.com/live/1374905/Drilling-blows-cloud-Odfjell-profit Odfjell Drilling returned to profit in the second quarter to reverse a year-earlier loss despite seeing a drop in revenue on lower activity in its engineering and well services business in the North Sea market that is set to result in job losses. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374905/Drilling-blows-cloud-Odfjell-profit Fri, 29 Aug 2014 08:09:36 +0000 live Det Norske fails at Heimsdalshoe http://www.upstreamonline.com/live/1374900/Det-Norske-fails-at-Heimsdalshoe Det Norske Oljeselskap has come up dry at its latest exploration well in the Norwegian North Sea. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374900/Det-Norske-fails-at-Heimsdalshoe Fri, 29 Aug 2014 08:05:04 +0000 live European players lead Sverdrup race http://www.upstreamonline.com/live/1374892/European-players-lead-Sverdrup-race Two European fabricators are heading the queue of eager contenders preparing to battle for the first major topsides contract to be tendered by Statoil for its Johan Sverdrup field development. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374892/European-players-lead-Sverdrup-race Fri, 29 Aug 2014 07:39:40 +0000 live Tax exemptions boost Afren's bottom line http://www.upstreamonline.com/live/1374893/Tax-exemptions-boost-Afrens-bottom-line London-listed Afren posted a rise in profits over the first half of the year, despite revenue sliding 29% over the same period. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374893/Tax-exemptions-boost-Afrens-bottom-line Fri, 29 Aug 2014 07:21:30 +0000 live SBM in $58m property sale gain http://www.upstreamonline.com/live/1374891/SBM-in-58m-property-sale-gain SBM Offshore has bagged another $58 million after completing the sale and leaseback of its property portfolio in Monaco. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374891/SBM-in-58m-property-sale-gain Fri, 29 Aug 2014 07:11:16 +0000 live Luno 2 appraisal fails to deliver http://www.upstreamonline.com/live/1374890/Luno-2-appraisal-fails-to-deliver Swedish explorer Lundin Petroleum has downgraded its resource estimate for the Luno 2 discovery off Norway after a disappointing appraisal well, despite hitting an oil column with the probe. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374890/Luno-2-appraisal-fails-to-deliver Fri, 29 Aug 2014 07:01:29 +0000 live Coleman warns African nations http://www.upstreamonline.com/live/1374889/Coleman-warns-African-nations Woodside chief executive Peter Coleman has warned African countries not to regulate them out of the country. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374889/Coleman-warns-African-nations Fri, 29 Aug 2014 06:50:22 +0000 live BW posts higher profits http://www.upstreamonline.com/live/1374888/BW-posts-higher-profits Floater specialist BW Offshore saw profits climb during the first half of the year along with revenues. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374888/BW-posts-higher-profits Fri, 29 Aug 2014 06:35:49 +0000 live Official lists African roadblocks http://www.upstreamonline.com/live/1374887/Official-lists-African-roadblocks Africa may not be the major competitor for Australia it has been pegged to be with potentially crippling cost barriers to working in the country, according to a number of leading government officials. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374887/Official-lists-African-roadblocks Fri, 29 Aug 2014 04:22:55 +0000 live Transfield back in black http://www.upstreamonline.com/live/1374886/Transfield-back-in-black Australia-listed returned to profit over the recent financial year as revenues also rose. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374886/Transfield-back-in-black Fri, 29 Aug 2014 03:36:44 +0000 live AJ Lucas improves numbers http://www.upstreamonline.com/live/1374881/AJ-Lucas-improves-numbers Australian services contractor AJ Lucas has suffered at the hands of exposure to the coal industry, with an oil and gas deal tipped to be a strong push forward. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374881/AJ-Lucas-improves-numbers Fri, 29 Aug 2014 01:31:11 +0000 live Tanker with Kurdish crude reappears off Texas http://www.upstreamonline.com/live/1374877/Tanker-with-Kurdish-crude-reappears-off-Texas An tanker loaded with $100 million of oil from Iraqi Kurdistan has popped up again on satellite tracking systems off the coast of Galveston, Texas as a weeks-long legal standoff continues over the sale of the crude. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374877/Tanker-with-Kurdish-crude-reappears-off-Texas Fri, 29 Aug 2014 00:35:33 +0000 live Shell files new Alaska drill plan http://www.upstreamonline.com/live/article1374871.ece Shell has filed a revised exploration plan for Arctic Alaska with the US Bureau of Ocean Energy Management (BOEM) focused on spudding new wells on prospects in the Chukchi Sea beginning next summer. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/article1374871.ece Thu, 28 Aug 2014 22:42:14 +0000 live Pennsylvania details water contamination http://www.upstreamonline.com/live/1374870/Pennsylvania-details-water-contamination The US state of Pennsylvania has released details of 243 cases where regulators concluded that oil or gas exploration contaminated or otherwise ruined drinking water wells. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374870/Pennsylvania-details-water-contamination Thu, 28 Aug 2014 21:50:17 +0000 live Sanjel to boost hydraulic horsepower http://www.upstreamonline.com/live/1374869/Sanjel-to-boost-hydraulic-horsepower Privately held oilfield services Sanjel of Canada plans to bulk up its hydraulic fracturing capacity by adding 120,000 hydraulic horsepower (HHP) to its North American fleet by May 2015. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374869/Sanjel-to-boost-hydraulic-horsepower Thu, 28 Aug 2014 21:26:55 +0000 live Cobalt cuts ties with Angolan partners http://www.upstreamonline.com/live/1374868/Cobalt-cuts-ties-with-Angolan-partners Houston-based player Cobalt International Energy has cut ties with two Angolan companies partnered in the Cameia offshore development in the Kwanza basin. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374868/Cobalt-cuts-ties-with-Angolan-partners Thu, 28 Aug 2014 20:59:30 +0000 live Mexican liquefaction in scope for Sempra http://www.upstreamonline.com/live/1374867/Mexican-liquefaction-in-scope-for-Sempra California's Sempra Energy is close to deciding on whether to add liquefaction capacity to its existing LNG regasification plant at Energia Costa Azul (ECA) in Baja California, Mexico. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374867/Mexican-liquefaction-in-scope-for-Sempra Thu, 28 Aug 2014 20:04:42 +0000 live Marcellus 'holds $90bn more' in gas riches http://www.upstreamonline.com/live/1374864/Marcellus-holds-90bn-more-in-gas-riches The Marcellus shale play, already one of the most prolific unconventional regions in the world, could hold more than $90 billion more in hydrocarbon riches and is positioned to account for nearly 25% of total US shale gas output, according to consultancy Wood Mackenzie. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374864/Marcellus-holds-90bn-more-in-gas-riches Thu, 28 Aug 2014 19:50:16 +0000 live WPX ordered to replace polluted water http://www.upstreamonline.com/live/1374856/WPX-ordered-to-replace-polluted-water Pennsylvania's state Department of Environmental Protection (DEP) has ordered Oklahoma-based gas producer WPX Energy to permanently replace the water supplies of three homeowners after the company's exploration activities in the Marcellus shale were found to have contaminated wells in the area. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374856/WPX-ordered-to-replace-polluted-water Thu, 28 Aug 2014 17:28:34 +0000 live YPF, Petronas sign Vaca Muerta JV http://www.upstreamonline.com/live/1374851/YPF-Petronas-sign-Vaca-Muerta-JV YPF and Petronas, the state-controlled companies from Argentina and Malaysia, respectively, have signed a $550 million joint venture to develop unconventional oil resources in the Vaca Muerta shale formation. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374851/YPF-Petronas-sign-Vaca-Muerta-JV Thu, 28 Aug 2014 16:25:08 +0000 live Lowest bid revealed for Petrobras floater http://www.upstreamonline.com/live/1374850/Lowest-bid-revealed-for-Petrobras-floater Petrobras has received bids for the provision of a floating production, storage and offloading unit at a key complex in the Campos basin, with one partnership coming out on top. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374850/Lowest-bid-revealed-for-Petrobras-floater Thu, 28 Aug 2014 15:53:28 +0000 live Iraq ‘to challenge US ruling on Kurdish oil’ http://www.upstreamonline.com/live/1374837/Iraq-‘to-challenge-US-ruling-on-Kurdish-oil’ Iraq is to challenge a ruling by a US court that prevented a cargo worth around $100 million of crude oil originating from the Kurdistan region from being seized by US authorities, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374837/Iraq-‘to-challenge-US-ruling-on-Kurdish-oil’ Thu, 28 Aug 2014 14:53:35 +0000 live D target in Statoil sights http://www.upstreamonline.com/live/1374838/D-target-in-Statoil-sights Statoil has been given the green light by Norway’s safety agency to drill an appraisal at the so-called D structure to the north-east of its Grane field in the North Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374838/D-target-in-Statoil-sights Thu, 28 Aug 2014 14:49:36 +0000 live Red ink for North Energy http://www.upstreamonline.com/live/1374834/Red-ink-for-North-Energy Norwegian explorer North Energy suffered a net loss of Nkr29.1 million ($4.7 million) in the second quarter after being hit by Nkr18.7 million in post-tax exploration and licence costs. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374834/Red-ink-for-North-Energy Thu, 28 Aug 2014 14:31:25 +0000 live Eurasia Drilling's profit hit by forex http://www.upstreamonline.com/live/1374831/Eurasia-Drillings-profit-hit-by-forex London-listed Eurasia Drilling saw revenues and profit dip in the first half of 2014 in a swing put down to foreign exchange losses due to a weaker Russian rouble. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374831/Eurasia-Drillings-profit-hit-by-forex Thu, 28 Aug 2014 14:09:09 +0000 live Statfjord leak order for Statoil http://www.upstreamonline.com/live/1374828/Statfjord-leak-order-for-Statoil Norway’s safety agency has enforced an order against Statoil related to regulatory violations over an oil leak that led to a nearly four-day shutdown of the state-owned operator’s Statfjord C platform. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374828/Statfjord-leak-order-for-Statoil Thu, 28 Aug 2014 14:04:19 +0000 live Crew Energy shedding Canadian acreage http://www.upstreamonline.com/live/1374827/Crew-Energy-shedding-Canadian-acreage Crew Energy is shedding more acreage in Canada as it looks to ramp-up development of its shale assets in British Columbia (BC). Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374827/Crew-Energy-shedding-Canadian-acreage Thu, 28 Aug 2014 13:54:40 +0000 live Greenpeace cries foul over Isfjell http://www.upstreamonline.com/live/1374826/Greenpeace-cries-foul-over-Isfjell Statoil is courting controversy after spudding the latest well of its current Barents Sea drilling campaign at the Isfjell prospect amid allegations by Greenpeace the company is defying a regulatory complaints procedure. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374826/Greenpeace-cries-foul-over-Isfjell Thu, 28 Aug 2014 13:30:26 +0000 live Poland completes shale law overhaul http://www.upstreamonline.com/live/1374825/Poland-completes-shale-law-overhaul Poland has enacted its new shale taxation measures almost three years after embarking on an overhaul aimed at revamping shale gas licensing and taxation to stimulate the resource's development. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374825/Poland-completes-shale-law-overhaul Thu, 28 Aug 2014 13:14:11 +0000 live Noble on the money at Katmai http://www.upstreamonline.com/live/1374822/Noble-on-the-money-at-Katmai Noble Energy has said it could be sitting of a resource base of up to 100 million barrels of oil equivalent after a deep-water US Gulf of Mexico wildcat came up trumps. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374822/Noble-on-the-money-at-Katmai Thu, 28 Aug 2014 12:49:26 +0000 live Profits rise at PetroChina http://www.upstreamonline.com/live/1374808/Profits-rise-at-PetroChina China’s leading oil and gas producer PetroChina posted a 15% rise in its second-quarter profit, matching estimates, partly due to higher upstream earnings and improved refining margins. (News Wires) http://www.upstreamonline.com/live/1374808/Profits-rise-at-PetroChina Thu, 28 Aug 2014 12:09:56 +0000 live CNOOC slips on higher costs in H1 http://www.upstreamonline.com/live/1374782/CNOOC-slips-on-higher-costs-in-H1 China National Offshore Oil Corporation’s net profit slipped by 2.3% in the first half of the year as higher costs ate into higher revenues. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374782/CNOOC-slips-on-higher-costs-in-H1 Thu, 28 Aug 2014 11:03:21 +0000 live More suspensions in Afren inquiry http://www.upstreamonline.com/live/1374773/More-suspensions-in-Afren-inquiry London-listed Afren has suspended two associate directors linked to its investigation of unauthorised payments linked to its top bosses that has already wiped a third off its share price. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374773/More-suspensions-in-Afren-inquiry Thu, 28 Aug 2014 10:42:39 +0000 live Soco profit falls on FPSO sharing http://www.upstreamonline.com/live/1374750/Soco-profit-falls-on-FPSO-sharing London-listed Soco International’s net profit and revenues both fell by around 24% in the first half of the year in a drop the explorer said was in line with expectations as production fell over last year’s floater production capacity share deal. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374750/Soco-profit-falls-on-FPSO-sharing Thu, 28 Aug 2014 10:08:40 +0000 live Gulf Keystone shares fall on KRG warning http://www.upstreamonline.com/live/1374739/Gulf-Keystone-shares-fall-on-KRG-warning London-listed Gulf Keystone Petroleum has warned its target to ramp up to 40,000 barrels per day of oil from its key Kurdistan asset may slip into next year due to the unfolding security situation. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374739/Gulf-Keystone-shares-fall-on-KRG-warning Thu, 28 Aug 2014 09:18:14 +0000 live Chariot re-awarded Namibia blocks http://www.upstreamonline.com/live/1374734/Chariot-re-awarded-Namibia-blocks UK-listed Chariot Oil & Gas has been re-awarded permits off Nambia with fellow UK junior AziNam on an increased stake. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374734/Chariot-re-awarded-Namibia-blocks Thu, 28 Aug 2014 08:55:14 +0000 live Lamprell lifts revenues 24% in H1 http://www.upstreamonline.com/live/1374730/Lamprell-lifts-revenues-24-in-H1 London-listed fabricator Lamprell said it is on track to hit its full-year targets after first-half earnings beat its expectations in a rise it put down to strong operational performance and improved margins. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374730/Lamprell-lifts-revenues-24-in-H1 Thu, 28 Aug 2014 08:17:41 +0000 live GMS posts steady results http://www.upstreamonline.com/live/1374611/GMS-posts-steady-results Offshore contractor Gulf Marine Services (GMS) has posted steady results for the first half of the year as revenues nudged up 5%. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374611/GMS-posts-steady-results Thu, 28 Aug 2014 07:32:44 +0000 live PGS takes revenue slump http://www.upstreamonline.com/live/1374609/PGS-takes-revenue-slump Oslo-based Petroleum Geo-Services (PGS) has posted a significant drop in revenue and profit for the second quarter year-on-year. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374609/PGS-takes-revenue-slump Thu, 28 Aug 2014 07:14:35 +0000 live Salamander narrows first half losses http://www.upstreamonline.com/live/1374608/Salamander-narrows-first-half-losses London-listed Salamander Energy narrowed its losses during the first half of 2014 as lower exploration expenses offset a fall in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374608/Salamander-narrows-first-half-losses Thu, 28 Aug 2014 06:57:32 +0000 live Tullow hits oil pay in Kenya http://www.upstreamonline.com/live/1374607/Tullow-hits-oil-pay-in-Kenya London-listed Tullow Oil has achieved some success at its onshore blocks in Kenya at three of its exploration and appraisal wells at Blocks 10BB and 13T. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374607/Tullow-hits-oil-pay-in-Kenya Thu, 28 Aug 2014 06:57:29 +0000 live EOC takes full ownership of OSVs http://www.upstreamonline.com/live/1374604/EOC-takes-full-ownership-of-OSVs Singapore’s EOC is set to take full ownership of two offshore support vessels it currently holds a 50% stake in through an equal partnership with Konquest Marine. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374604/EOC-takes-full-ownership-of-OSVs Thu, 28 Aug 2014 06:30:09 +0000 live Brent drops on Thursday http://www.upstreamonline.com/live/1374597/Brent-drops-on-Thursday Brent crude dipped on Thursday, but still held between $102 and $103 per barrel, as expectations of ample supply weighed on prices. (News Wires) http://www.upstreamonline.com/live/1374597/Brent-drops-on-Thursday Thu, 28 Aug 2014 05:23:37 +0000 live US growth higher than disruptions http://www.upstreamonline.com/live/1374592/US-growth-higher-than-disruptions Liquid fuels production in the US is set to grow more than could offset unplanned supply disruptions, according to information from the US Energy Information Administration (EIA). bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374592/US-growth-higher-than-disruptions Thu, 28 Aug 2014 03:41:30 +0000 live Loyz gets boost from Thai sales http://www.upstreamonline.com/live/1374591/Loyz-gets-boost-from-Thai-sales Singapore-listed Loyz Energy has moved further into the black on the back of maiden sales from its assets in Thailand. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374591/Loyz-gets-boost-from-Thai-sales Thu, 28 Aug 2014 02:18:12 +0000 live Oz investment to shrink: report http://www.upstreamonline.com/live/1374590/Oz-investment-to-shrink-report Investment in the Australian oil and gas industry is fading, and quickly, according to energy economics group EnergyQuest. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374590/Oz-investment-to-shrink-report Thu, 28 Aug 2014 01:31:53 +0000 live Mahalo reserves shored up http://www.upstreamonline.com/live/1374588/Mahalo-reserves-shored-up Australia’s Comet Ridge has received a reserves report from an independent consultant for the Mahalo gas project in central Queensland. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374588/Mahalo-reserves-shored-up Thu, 28 Aug 2014 00:21:44 +0000 live NuVista adds to Montney holdings http://www.upstreamonline.com/live/1374587/NuVista-adds-to-Montney-holdings Canadian minnow NuVista Energy has bought 7680 net acres of land prospective for the Montney shale in north-east British Columbia for C$35 million ($32.2 million). Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374587/NuVista-adds-to-Montney-holdings Wed, 27 Aug 2014 22:52:57 +0000 live Yoho cuts spending on Duvernay delays http://www.upstreamonline.com/live/1374583/Yoho-cuts-spending-on-Duvernay-delays Canadian junior Yoho Resources is cutting its capital spending programme by about 25% due to infrastructure delays in the emerging Duvernay shale play. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374583/Yoho-cuts-spending-on-Duvernay-delays Wed, 27 Aug 2014 22:40:02 +0000 live Small boost for Penn West on reserves assurance http://www.upstreamonline.com/live/1374582/Small-boost-for-Penn-West-on-reserves-assurance Penn West Petroleum's stock rose a day after the company attempted to assure investors that its estimated oil and gas reserves were not affected by an accounting failure that has dogged the Calgary-based outfit. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374582/Small-boost-for-Penn-West-on-reserves-assurance Wed, 27 Aug 2014 22:07:34 +0000 live Shell 'reaches deals' in Nigeria http://www.upstreamonline.com/live/1374578/Shell-reaches-deals-in-Nigeria Shell said it had reached deals on some of the four Nigerian oilfields it has offered for sale, according to a report, as the Anglo-Dutch supermajor pushes ahead with divesting global assets to cut costs. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374578/Shell-reaches-deals-in-Nigeria Wed, 27 Aug 2014 20:39:46 +0000 live Repsol talks for Talisman 'stall' http://www.upstreamonline.com/live/1374568/Repsol-talks-for-Talisman-stall Talks between Repsol and Talisman Energy over the Spanish player's potential plan to buy the Canadian producer have hit a snag, according to reports. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374568/Repsol-talks-for-Talisman-stall Wed, 27 Aug 2014 18:33:05 +0000 live Germany's energy shift 'on wrong track' http://www.upstreamonline.com/live/1374560/Germanys-energy-shift-on-wrong-track Germany’s dream of an energy transition to renewables to cut carbon dioxide emissions is ”in danger of turning into a nightmare” as an increased reliance on coal by the country is having the reverse effect, Wintershall has warned. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374560/Germanys-energy-shift-on-wrong-track Wed, 27 Aug 2014 17:23:56 +0000 live Wintershall passes Skarfjell milestone http://www.upstreamonline.com/ONS/1374559/Wintershall-passes-Skarfjell-milestone German operator Wintershall has passed a new milestone in moving its Norwegian Skarfjell discovery towards a development. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/ONS/1374559/Wintershall-passes-Skarfjell-milestone Wed, 27 Aug 2014 17:06:10 +0000 ONS Norway asset sales 'shift landscape' http://www.upstreamonline.com/live/1374552/Norway-asset-sales-shift-landscape Asset transactions off Norway are heading for a new record this year on the back of recent top-dollar deals, with a rash of sales by the likes of Statoil opening the door for smaller players with a stronger appetite to develop more marginal discoveries, according to a Wood Mackenzie analyst. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374552/Norway-asset-sales-shift-landscape Wed, 27 Aug 2014 16:39:01 +0000 live ZaZa gains Quantum as Texas partner http://www.upstreamonline.com/live/1374549/ZaZa-gains-Quantum-as-Texas-partner Houston’s ZaZa Energy has gained an affiliate of Quantum Energy Partners as a joint venture partner on a set of East Texas properties. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374549/ZaZa-gains-Quantum-as-Texas-partner Wed, 27 Aug 2014 16:14:40 +0000 live Eni, Quicksilver in first Permian flows http://www.upstreamonline.com/live/1374548/Eni-Quicksilver-in-first-Permian-flows The first well drilled by a joint venture between Italian giant Eni and US independent Quicksilver Resources in the Permian basin is flowing mostly oil, the companies said. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374548/Eni-Quicksilver-in-first-Permian-flows Wed, 27 Aug 2014 16:03:01 +0000 live Bashneft profits on higher output http://www.upstreamonline.com/live/1374537/Bashneft-profits-on-higher-output Russian oil producer Bashneft has raised net income by 13% quarter-on-quarter in the second quarter as sales revenues rose on higher output from brownfields and better prices. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374537/Bashneft-profits-on-higher-output Wed, 27 Aug 2014 15:37:58 +0000 live Financing options 'awash for industry' http://www.upstreamonline.com/live/1374532/Financing-options-awash-for-industry Oil and gas players have “more options than ever before in how they finance themselves”, as global spending in the energy industry is set to balloon. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374532/Financing-options-awash-for-industry Wed, 27 Aug 2014 15:34:47 +0000 live Gas leak lands Shell safety warning http://www.upstreamonline.com/live/1374530/Gas-leak-lands-Shell-safety-warning Shell has been served with a serious safety warning by UK authorities following a gas leak on its Brent Bravo platform in the northern North Sea. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1374530/Gas-leak-lands-Shell-safety-warning Wed, 27 Aug 2014 15:17:24 +0000 live Industry 'should look to skies' for ideas http://www.upstreamonline.com/live/1374528/Industry-should-look-to-skies-for-ideas The oil industry is far behind other industries when it comes to standardisation practices, but it can learn from the aircraft sector in an effort to chop costs. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374528/Industry-should-look-to-skies-for-ideas Wed, 27 Aug 2014 15:13:51 +0000 live Dunquin data 'shows oil generation' http://www.upstreamonline.com/live/1374519/Dunquin-data-shows-oil-generation ExxonMobil’s post-drill evaluation of its Dunquin North wildcat off south-west Ireland has found that significant resources were in place before the reservoir was breached. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374519/Dunquin-data-shows-oil-generation Wed, 27 Aug 2014 14:54:14 +0000 live Det Norske deals 'in pipeline' http://www.upstreamonline.com/live/1374523/Det-Norske-deals-in-pipeline An analyst has not ruled out further asset deals by Det Norske Oljeselskap – either acquisitions of producing field interests or divestments – after seeing cash flow beefed up by its Marathon Oil purchase. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374523/Det-Norske-deals-in-pipeline Wed, 27 Aug 2014 14:49:22 +0000 live Seadrill shares fall 3% on outlook http://www.upstreamonline.com/live/1374510/Seadrill-shares-fall-3-on-outlook Norwegian rig owner Seadrill saw its shares trading down by 3% in Oslo on Wednesday after mixed reaction to its second-quarter results and market outlook. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374510/Seadrill-shares-fall-3-on-outlook Wed, 27 Aug 2014 13:54:17 +0000 live 'Productivity key' to killing Norway costs http://www.upstreamonline.com/live/1374509/Productivity-key-to-killing-Norway-costs The boss of Det Norske Oljeselskap is calling for improved frame conditions to promote greater competition on field development off Norway in order to drive innovation that can generate productivity gains to turn the tide of rising costs. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374509/Productivity-key-to-killing-Norway-costs Wed, 27 Aug 2014 13:50:56 +0000 live Drill disappointments for Faroe Islands http://www.upstreamonline.com/live/1374503/Drill-disappointments-for-Faroe-Islands The Faroe Islands has had its hopes of becoming a fully-fledged oil nation dashed once again after Statoil this summer completed two wildcats with disappointing results. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374503/Drill-disappointments-for-Faroe-Islands Wed, 27 Aug 2014 13:11:01 +0000 live CCS 'needs rapid ramp-up' http://www.upstreamonline.com/live/1374500/CCS-needs-rapid-ramp-up Demonstration and development of carbon capture and storage technology will need to be rapidly ramped up for the strategy to have a meaningful impact on carbon emission reduction targets, Shell’s CCS leader has said. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374500/CCS-needs-rapid-ramp-up Wed, 27 Aug 2014 12:54:48 +0000 live Sevan in Arctic rig design race http://www.upstreamonline.com/live/1374499/Sevan-in-Arctic-rig-design-race Sevan Marine is pursuing development of a unique ice-classed drilling unit for work in the Arctic under a collaboration with ExxonMobil and drilling contractors as it seeks to bring to fruition the first dedicated unit capable of working in ice-bound waters. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1374499/Sevan-in-Arctic-rig-design-race Wed, 27 Aug 2014 12:44:03 +0000 live Total gets busy at Garantiana http://www.upstreamonline.com/live/1374490/Total-gets-busy-at-Garantiana Total this week started a production test of its Garantiana discovery, aiming to find out whether the North Sea find is large enough for a stand-alone development. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374490/Total-gets-busy-at-Garantiana Wed, 27 Aug 2014 11:09:25 +0000 live Canacol flows gas from Palmer find http://www.upstreamonline.com/live/1374491/Canacol-flows-gas-from-Palmer-find Colombia-focused explorer to tie in Lower Magdalena discovery Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374491/Canacol-flows-gas-from-Palmer-find Wed, 27 Aug 2014 11:05:51 +0000 live Total nears Martin Linge probes http://www.upstreamonline.com/live/1374479/Total-nears-Martin-Linge-probes French major Total is about to start drilling production wells for its Martin Linge development as the company gears up for a comeback as an operator offshore Norway. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374479/Total-nears-Martin-Linge-probes Wed, 27 Aug 2014 10:38:18 +0000 live BG stays quiet on Tanzania sale talk http://www.upstreamonline.com/live/1374469/BG-stays-quiet-on-Tanzania-sale-talk UK player BG Group has declined to comment on rumours it is looking for a buyer for one of its three gas-rich blocks off Tanzania. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374469/BG-stays-quiet-on-Tanzania-sale-talk Wed, 27 Aug 2014 10:12:54 +0000 live Sevan mulls Developer axe at Cosco http://www.upstreamonline.com/live/1374462/Sevan-mulls-Developer-axe-at-Cosco Rig player believes delays would see it recoup cash paid so far, but delivery still a possibility Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374462/Sevan-mulls-Developer-axe-at-Cosco Wed, 27 Aug 2014 09:33:26 +0000 live Energean buys rig for Prinos ramp-up http://www.upstreamonline.com/live/1374458/Energean-buys-rig-for-Prinos-ramp-up Greek explorer Energean Oil & Gas has launched a $225 million investment programme in the country’s north-west and finalised the purchase of a tender assist drilling rig. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374458/Energean-buys-rig-for-Prinos-ramp-up Wed, 27 Aug 2014 08:43:19 +0000 live Total ‘hits delay at Laggan-Tormore’ http://www.upstreamonline.com/live/1374456/Total-‘hits-delay-at-Laggan-Tormore’ Total is set to be delayed in starting production at a UK development as it runs into problems with construction of a gas treatment plant, a project partner has claimed. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374456/Total-‘hits-delay-at-Laggan-Tormore’ Wed, 27 Aug 2014 08:28:32 +0000 live Dong suffers Hejre delay headache http://www.upstreamonline.com/live/1374453/Dong-suffers-Hejre-delay-headache Dong Energy is facing a delay of up to two years at its high-pressure, high-temperature Hejre development off Denmark as a bottleneck hits its supplier chain. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1374453/Dong-suffers-Hejre-delay-headache Wed, 27 Aug 2014 08:09:40 +0000 live Seadrill ramps up operating results http://www.upstreamonline.com/live/1374452/Seadrill-ramps-up-operating-results Seadrill has booked record ebidta in the second quarter thanks to new orders and an expanded fleet, while its net income decreased due to the absence of a seven-figure divestment completed this time last year. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1374452/Seadrill-ramps-up-operating-results Wed, 27 Aug 2014 07:56:32 +0000 live Mixed results for Ophir off Equatorial Guinea http://www.upstreamonline.com/live/1374449/Mixed-results-for-Ophir-off-Equatorial-Guinea London-listed Ophir Energy has reported mixed results with the drilling of an appraisal well on Block R, off the coast of Equatorial Guinea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374449/Mixed-results-for-Ophir-off-Equatorial-Guinea Wed, 27 Aug 2014 07:29:14 +0000 live Plexus grabs Det Norske work http://www.upstreamonline.com/live/1374448/Plexus-grabs-Det-Norske-work London-listed Plexus has won a £1 million (US$1.6 million) contract with Det Norske to supply its signature POS-GRIP technology to the player. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374448/Plexus-grabs-Det-Norske-work Wed, 27 Aug 2014 07:20:30 +0000 live Circle spuds second well http://www.upstreamonline.com/live/1374447/Circle-spuds-second-well London-listed Circle Oil has spudded the CGD-12 well in the Sebou permit in Morocco. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374447/Circle-spuds-second-well Wed, 27 Aug 2014 07:02:12 +0000 live BG flows more gas off Tanzania http://www.upstreamonline.com/live/1374446/BG-flows-more-gas-off-Tanzania UK giant BG Group has flowed more gas from an appraisal well on its Mzia discovery in Block 1, offshore the coast of southern Tanzania. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374446/BG-flows-more-gas-off-Tanzania Wed, 27 Aug 2014 06:52:32 +0000 live Horizon profit triples on PNG sale http://www.upstreamonline.com/live/1374445/Horizon-profit-triples-on-PNG-sale Australia’s Horizon Oil has benefited from a partial sale of its assets in Papua New Guinea, posting a 269% increase in year-on-year profit. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374445/Horizon-profit-triples-on-PNG-sale Wed, 27 Aug 2014 06:27:26 +0000 live WDS wins LNG double http://www.upstreamonline.com/live/1374444/WDS-wins-LNG-double Australia-listed WDS has been awarded two contracts for major liquefied natural gas projects in Queensland worth A$65 million (US$60.7 million). bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374444/WDS-wins-LNG-double Wed, 27 Aug 2014 05:43:35 +0000 live Brent rises towards $103 http://www.upstreamonline.com/live/1374443/Brent-rises-towards-103 Brent crude nudged up towards $103 a barrel on Wednesday, recovering from a 14-month low hit last week although bountiful global supplies are checking gains. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374443/Brent-rises-towards-103 Wed, 27 Aug 2014 04:40:23 +0000 live Trident gains Amadeus permit http://www.upstreamonline.com/live/1374442/Trident-gains-Amadeus-permit Unlisted Australian company Trident Energy has been awarded a 100% interest in an exploration permit in the Northern Territory's Amadeus basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374442/Trident-gains-Amadeus-permit Wed, 27 Aug 2014 04:31:47 +0000 live Santos to re-enter Amadeus well http://www.upstreamonline.com/live/1374437/Santos-to-re-enter-Amadeus-well Australian independent Santos is preparing to re-enter the Mt Kitty-1 exploration well in the Northern Territory's onshore Amadeus basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374437/Santos-to-re-enter-Amadeus-well Wed, 27 Aug 2014 03:22:36 +0000 live Drillsearch hits more records http://www.upstreamonline.com/live/1374436/Drillsearch-hits-more-records Australia’s Drillsearch Energy has managed to post a bumper result for the 2014 financial year, but has fallen short of most of its guidance targets. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1374436/Drillsearch-hits-more-records Wed, 27 Aug 2014 03:19:41 +0000 live Horizon flows more Stanley gas http://www.upstreamonline.com/live/1374434/Horizon-flows-more-Stanley-gas Australia-listed Horizon Oil has flowed gas from a development well on the Stanley gas-condensate field in PDL 10, onshore Papua New Guinea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1374434/Horizon-flows-more-Stanley-gas Wed, 27 Aug 2014 02:28:58 +0000 live